So the budget cut does warrant some concern because it could mean 150 spots being limited to 100 -- hypothetically; I don't know exactly how many spots are available each year. If CSU East Bay averaged 300 apps--another hypothetical number--in prior years, a 50% admittance rate falls to 33% given a cut of 50 spots.
Now if you've applied to Berkeley (<20%) and San Francisco State (~ 17%), CSU East Bay definitely can't be as competitive as those two. My guess is somewhere between 25-50% for East Bay. However, their applicants probably don't boast the kind of GPA, GRE, or experience the Berkeley or SFSU folks boast.
One last note: CSU East Bay does rolling admissions; which means depending on when you submitted your app and wait time, that's probably when you'll hear back. I completed mine in beginning of February and admissions office gave me a wait-time of 4-6 weeks. When did you submit your app?